08528, Kingston, NJ

The 8528 zip code of Kingston, NJ has a median home value of $247,900 and a median home equity value of $132,000. This is significantly higher than the statewide median home value of $174,500 and the national median home equity value of $177,200. The 8528 zip code also has a significantly higher percentage of homes with a mortgage than the statewide or national percentages: 64% vs. 46% and 66%, respectively. This indicates that homeowners in this area are more likely to have access to affordable financing options for purchasing their homes.

One potential explanation for these high home values is that Kingston is an affluent community. The population in this zip code is highly educated and wealthy, which may lead to increased demand for housing in this area. Additionally, many homeowners in this area may be able to afford to pay higher prices due to strong economic conditions. In fact, according to Zillow’s Home Value Index (HVI), the average monthly payment on a mortgage in the 8528 zip code is $2,812 – well below the New Jersey state average of $3,948 and the national average of $3,891.

Despite these high values, it's important to keep in mind that not all homes in the 8528 zip code are worth more than their counterparts elsewhere in New Jersey or nationwide. A significant number of homes – approximately 28% – have been classified as “undervalued” by Zillow’s HVI algorithm due to low levels of appreciation over time relative to other properties in the same neighborhood or city. This could indicate that there are opportunities available for buyers who are willing to negotiate lower prices on properties within this ZIP Code area.